Srei Infrastructure shares zoom 20 pc; hit upper circuit

PTI | New Delhi | Updated: 09-04-2021 12:16 IST | Created: 09-04-2021 12:16 IST
Srei Infrastructure shares zoom 20 pc; hit upper circuit

Shares of Srei Infrastructure Finance on Friday zoomed 20 per cent after the company's subsidiary Srei Equipment Finance received expression of interest (EOI) of up to USD 250 million capital infusion.

The stock zoomed 20 per cent to Rs 7.02 -- its highest permissible trading limit -- for the day on BSE.

On NSE, it jumped 19.65 per cent to Rs 7 -- its upper circuit limit.

Srei Equipment Finance on Thursday said it has received EOI of up to USD 250 million capital infusion from two international private equity investors.

The private equity (PE) funds are US-based Arena Investors LP, and Singapore's Makara Capital Partners, the wholly-owned subsidiary of Srei Infrastructure Finance said in a release.

The company's strategic coordination committee (SCC), chaired by its independent director Malay Mukherjee, will coordinate, negotiate and conclude discussions with the PE investors to bring the capital into the business and advise the management, it added.

Arena Investors LP is a multi-strategy investment firm with USD 2.2 billion of committed capital. Makara Capital Partners is a global financial services company under the regulatory purview of the Monetary Authority of Singapore (MAS).

Srei Equipment Finance provides financing for construction and mining equipment.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)



Tracking Fintech during COVID-19: Harnessing power of technology

Its abundantly clear now that as fintech cements its place in the financial sector, accelerated further by the COVID-19 pandemic, it could open the sector to new possibilities by harnessing the power of technology to deliver financial ...

Tectonic turns: How technology shaped healthcare over the decades

Tracing an episodic evolution, with technology at the interface of human and his health....

World Water Day sees crises of inequality in countries both rich and poor

... ...

Privacy and data protection: Reviewing notable policy frameworks

The evolved privacy principles and the resulting legislation across the world primarily aim to force the data collector to define the purpose for which the data is being collected along with the need to obtain explicit consent for the said ...


Latest News

'You won a lot of hearts': Raina lauds Samson's valiant 119-run knock

Sanju Samsons knock of 119 runs of just 63 balls might have come in a losing cause against the Punjab Kings, but the right-handed batsman showed his potential and the cricketing fraternity could not praise him enough. Rajasthan Royals skipp...

Reuters Sports News Summary

Following is a summary of current sports news briefs.Mets-Phillies postponed due to rain will play doubleheader TuesdayInclement weather caused the postponement of Mondays game between the host New York Mets and Philadelphia Phillies at Cit...

China blue-chips rise as export growth highlights global recovery

Chinese blue-chip shares edged higher on Tuesday after new data showed the countrys exports rose in March, but persistent investor concerns that a solidifying recovery could prompt a shift to tighter policy kept gains in check. At the midda...

Equity indices edge higher on mixed Asian cues, ONGC top gainer

Equity benchmark indices ticked up marginally during early hours on Tuesday tracking similar trends in Asian markets.At 1015 am, the BSE SP Sensex was up by 411 points or 0.86 per cent at 48,294 while the Nifty 50 edged higher by 131 points...

Give Feedback